In accordance with the Sub-Regulation 3 of Regulation 42 of Company Secretaries Regulations 1982, the council of the Institute of Company Secretaries of India (ICSI) shall have the power to decide the individual subject(s)/group(s) of the CS course examination from which a candidate shall be exempted on the basis of prescribed criteria.
Accordingly, there are two option for claiming exemption in any paper of CS Foundation, CS Executive (Inter) and CS Professional (Final) examinations. Either you had secured minimum of 60 per cent marks in that particular subject/s in earlier sessions of CS Exams or you have passed such examination of any university or such professional institutes/bodies in India or abroad, as may be recognised by the council of CS Institute from time to time.
The Council of the Institute of Company Secretaries of India (ICSI) vide announcement dated 17/11/2013 has modified the criteria for granting paper-wise exemptions to Company Secretaries (CS) students on the basis of their higher qualifications. As a result of which, with effect from Sunday, 01 December 2013, CS students (Inter and Final) will get paper wise exemptions in the Executive Programme and Professional Programme Examinations if and only if they are either qualified Cost and Management Accountant (CMA) or Bachelor of Laws (LLB).
In other words, if you are qualified Cost Accountants and LLB then only you will get paper wise exemptions in CS Executive Programme and CS Professional Programme Examinations. Earlier to these revised guidelines all CS students having degree of Cost Accountant (CMA), MBA, MCOM, LLB, LLM, MA (CS) and Commerce Graduates were eligible for claiming paper wise exemption in CS examinations.
Note that prior to issue of revised guidelines of paper wise exemption, whatever exemption were already granted to students, will remain valid till validity of their registration or completion of the respective stage of examination, whichever is earlier. That means if you had already claimed exemption then your exemption shall remain valid and you are not required to claim it again till its validity.
Paper wise Exemption on the basis of Higher Qualifications
As per the present guidelines, students pursuing CS Course are eligible for paper-wise exemptions based on the following higher qualifications acquired by them : –
- Passed LL.B. (with 50% or more marks in the aggregate)
- Passed the Final Course of The Institute of Cost Accountants of India [ICAI(Cost)]
A) The Bachelor of Laws (LLB):
Those students who are qualified LLB (Qualification Code-047) with securing minimum 50% marks in the aggregate shall be eligible for claiming paper-wise exemption in Paper 7-Industrial, Labour and General Laws (Paper Code – 327) of CS Executive Programme under New Syllabus (2012).
Remember the LLB Qualification Code-047 and Paper Code – 327 for claiming exemption.
LLB is a 3 Years Degree Course or 5 years integrated law course to be done from a recognized University / Institute either constituted under an Act of Parliament or approved by All India Council for Technical Education (AICTE)/ Association of Indian Universities (AIU).
Therefore, you are not eligible for claiming paper wise exemptions in CS Executive Exams even you are a qualified Chartered Accountant (CA) or having any other professional qualifications. No paper-wise exemption available
for this qualification in any paper covered under Professional Programme Stage.
B) Cost and Management Accountant (CMA):
Following papers shall be exempted to Final examination passed student of the Institute of Cost Accountant of India (ICAI):
Remember the CMA Qualification Code-044 and respective subject or paper codes are as follows:
CS Executive Programme:
Paper-2: Cost and Management Accounting (Paper Code-322)
Paper-4: Tax Laws and Practices (Paper Code- 324)
Paper-5: Company Accounts and Auditing Practices (Paper Code-325)
Students who have been granted exemption in Executive Programme Stage on the basis of having passed Final Course of The Institute of Cost Accountants of India (ICAI-Cost) are required to submit their request for exemptions afresh for papers covered under the Professional Programme Stage & the same are not granted automatically.
CS Professional Programme:
Paper-1: Advanced Company Law and Practice (Paper Code-331)
Paper-5: Financial, Treasury and Forex Management (Paper Code-335)
Paper-7: Advanced Tax Laws and Practice (Paper Code-337)
Thus, the exemption under reciprocal arrangement with Institute of Cost Accountants of India (ICAI) will continue. Students need to upload scanned attested copies of mark sheets of all parts/semesters of LLB degree or scanned attested copies of final pass certificate of ICAI(cost).
Fee and Last Date for paper wise Exemption
Fee for paper wise exemption is ₹1000/- (per subject) and is to be paid through ‘Online Services’ using Credit Card/Debit cards /Net banking /Bank Challan.
CS Institute vide announcement dated 11-08-2016 extended the last date for claiming paper wise exemptions for CS Executive as well as CS Professional examinations. Accordingly, the last date of applying for paper wise exemptions is
31st July 10th October 2016 for December 2016 session and 31st January 9th April 2017 for June 2017 session of CS Inter (Executive Programme) and CS Final (Professional Programme) Examination.
How to Claim Paper-wise Exemption in CS Dec 2016 Exams
Following steps/process to be followed for getting paper wise exemptions in CS Inter/Final examinations to be held in June/December every year.
Step-1 (Login Account):
Visit the ICSI official website for students at ICSI.in/Student. Thereafter, click on Login button from the top right corner of opened window.
Now, login by providing your username (17 Digit Registration Number) and password. In case, you forgot your password, please click on retrieve password. However, if you have not registered on CS Institute online portal then click on Reset Password button.
After successful Login, select My Account from Students Tab menu as shown in this screenshot.
Step-2 (Fill up Form):
Go to Payment Request drop down option tab menu and click on Exemption Qualification Basis Request.
Now, fill up the required information for claiming your paper wise exemptions for respective examinations.
In Exemption request, Select Apply. Under Module option select the Module and click on the respective subject in which the exemption is to be sought. Thereafter, select the Qualification from drop down list as exemption basis.
Step-3 (Upload Supporting Documents):
Upload the Supporting Document(s) viz. scanned attested copies of mark sheets of all parts/semesters of LLB degree or scanned attested copies of final pass certificate of ICAI (Cost), as the case may be. Note that the file size you are trying to upload should be Maximum 6 MB.
Step-4 (Submit Request):
After selecting the mode of payment (Credit/Debit Card/ Net Banking/ Challan), click on Submit Request. You will see a new window showing your request ID and Transaction ID.
The Request ID and Transaction ID shall automatically be generated for control purpose and before actual payment transaction starts. Please note this for all future communication. That means it does not confirm that payment has been received by CS Institute.
Step-5 (Make Payment):
Finally, click on the button Proceed For Payment and make the payment by using your Master or Maestro Debit/ Credit Card. If you have internet banking facility, then you may create Virtual Card for making payment of fee to ICSI.
In case you shall pay the requisite fee online, please check from the payment status from your bank/ account statement immediately. You may get a print out of the acknowledgement from the ICSI portal after one working day.
Contact for Help:
No exemption shall be given on the basis of any other higher education. For more help and for exemption related queries, please send your mail at mail id: firstname.lastname@example.org. The last date of applying for exemption is 9th April for June Session of examinations and 10th October for December session of examinations.
Last date for submission of request for cancellation of Exemption
For the students who have enrolled for December, 2016 session and the requests should be submitted at email@example.com as per the schedule given below:
- Foundation Programme Examination: 18th November, 2016 upto 16:00 hours
- Executive & Professional programme Examination: 6th December, 2016 upto 16:00 Hours
Paper-wise exemption in any paper(s) of the examination, once sought by the candidate and granted by the Institute remains valid and is printed in his/her Admit Card (Roll No.) and taken on record for computation of his/her results unless it is cancelled by the student by submitting a formal request to the Institute. Note that exemption once cancelled on student’s request shall not be revived subsequently under any circumstances.
Therefore, candidates desirous of cancelling the paper-wise exemptions granted to them are advised to send a formal request at E-Mail id firstname.lastname@example.orgSuch requests for cancellation should be sent latest by 18th November, 2016 (Upto 16:00 Hours) by Foundation Programme Students and by 6th December, 2016 (Upto 16:00 Hours) by Executive and Professional Programme Students.